sigh...
You can have all the workers in the country working OT and it
can result in higher GDP. However, having all the workers working
OT, does that means the economy improved? Why do you need workers
to work OT instead of getting more workers?
In a extreme case scenario, you can have a country that 100%
export and gain high GDP yet their standard of living is low. Do
you know that inflation can actually "improve" GDP?
Now tell me, how is the GDP calculated? GDP is nothing but a
rough overview of the country economy, let me stress this word,
rough.
Let me add in another point, Singapore have no minimum wages
law. We can achieve low unemployment rate, but are all the employed
have the minimum standard of living? What is the standard of
living? Is it to let one have the minimum entertainment accessible
to him/she? Is it to let one have the capability to upkeep a
family?
I can keep going on and on and you will still not understand
what I trying to point here nor I will give a obvious direction
what I trying to make you understand here.
GDP tight to wages, OMG, you must be joking, you tell me Uncle, how
is GDP calculated, I am a fair gal, if you do it right, 2 bottles
of chivas no problem, but if you are taking GDP with wages, i think
you are far far off the mark.
